Media tycoon-cum-politician Harry Tanoesoedibjo. (Antara Photo/Rivan Awal Lingga)

MNC Buoyed by Disney Talks


JULY 05, 2019

Jakarta. Media Nusantara Citra, a listed media company controlled by tycoon-cum-politician Harry Tanoesoedibjo, has been in talks with media giant The Walt Disney Company reportedly for a possible content collaboration and to negotiate an investment by the US media giant in the Indonesian company. 

Mirae Asset Sekuritas Indonesia said in a research note to clients on Thursday that Hary first revealed the plans in front of a number of investment managers in South Korea on June 27-28.

MNC's shares rallied this week, and overall are up by 21 percent since the end of last month. 

"During the meeting, Hary mentioned Disney is currently negotiating to buy content from MNC's library for Hotstar India," Mirae wrote on Thursday.

Hotstar India is a streaming platform owned by Novi Digital Entertainment, a subsidiary company of Star India, itself a subsidiary of Disney.

Disney's approach to the MNC Group is thought to be part of an effort to expand its share of the Asian market. 

Hary estimated that a content collaboration with Disney will be able to generate revenues upwards of $200 million for more than 10 years, Mirae said. 

Harry also believed the negotiation for Disney to acquire a 20 percent stake in MNC will continue after being delayed for three years.